Hi groenstraat19....quick look at pet.....loosely follows some T/A principles but is almost entirely news driven imo.
Looking at the chart close up, we can see the trigger volume just at the point where the bollys were indicating an imminent move. There was the major push thro thre popular ema's and subsequent fall back on diminishing volume, finally gaining support off the 20dayema. A further burst of volume and the sp is currently above the 200dayema signifying that its in uptrend mode. Sp is perched just below the 50p barrier, however, it is entirely down to how and when the next piece of news is interpreted...imo. If its bad or non-existant, then the sp will probably drop like a stone, without any of the ema's offering enough support, but, on the other hand, slightest whiff of good news ant the next spike could take it to 100p or more....not a move which i believe would be easily caught....i guess you pays your money and takes your chance with this type of share....not for the weak of heart...lol.
